Recap Not only Dow fulfilled our upside target of 12000 mentioned last week, it actually completed 100% absolute range expansion before stalling. Closed the week near the high of the week.
Outlook Consolidation to slightly higher within Y+3 and Y+4. Reactions to major news shocks from last week will take the market sometime to digest.
Pullback to the gap is expected once the short squeeze dynamics is over.
Hence, I am expecting a choppy rally for 5 to 8 days that produces a top leading Dow back down to this open gap below.
Lawrence's Comment
Recap
Zoomed higher to Y+2 and consolided since. Later in the week, drifted higher and eventually breakout to the upside. Closed the week at week high and above Y+3.
Outlook
Out of ...
Dow 30 Oct 31 to Nov 04 Outlook
Lawrence’s Comment
Not only Dow fulfilled our upside target of 12000 mentioned last week, it actually completed 100% absolute range expansion before stalling. Closed the week near the high of the week.
Outlook
Consolidation to slightly higher within Y+3 and Y+4. Reactions to major news shocks from last week will take the market sometime to digest.
Pullback to the gap is expected once the short squeeze dynamics is over.
Hence, I am expecting a choppy rally for 5 to 8 days that produces a top leading Dow back down to this open gap below.
Share